Today, Vietnam is one of the most rapidly developing countries in Southeast Asia due to several reasons. Those are the economic reforms implemented in the 90s, the fastest-growing middle class in SEA, participation in numerous intraregional and international trade agreements (like RCEP and EU-Vietnam FTA). This development is also driven by a growing young and educated population and an expanding domestic consumer market.
According to the forecasts, in the medium and long term the country’s economy is expected to grow by more than 6% annually.
Restrictions for some foreign investments
Before staring business in Vietnam, learn more about what kind of foreign business is prohibited in the country. For example, foreigners aren’t allowed to run business that deals with particular chemicals, minerals, drugs, firecrackers, and others.
Cash payments are extremely widespread in Vietnam. More than 90% of the country’s transactions are done in cash because of unreliable cashless system and ATMs. In this sphere the government takes some measures as well. It focuses on simplifying digital payments systems and adoption of technologies that may promote it.